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Stocks sink 2.7% despite Asian surge

China Daily | Updated: 2008-09-09 07:55

Stocks sink 2.7% despite Asian surge

The main stock index tumbled nearly 3 percent yesterday, dramatically underperforming a jump by regional share markets, because of concern about a slowing Chinese economy and heavy supplies of fresh equity.

The Shanghai Composite Index ended down 2.68 percent at a 21-month closing low of 2143.42 points.

Overseas, the MSCI index of Asia-Pacific stocks outside Japan climbed 5 percent on news that the US government was taking over mortgage lenders Fannie Mae and Freddie Mac in an effort to ease the US financial crisis.

Stocks sink 2.7% despite Asian surge

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